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Updated: 1 hour 23 min ago

Oil prices dip on signs of economic slowdown, but OPEC-led cuts provide support

Wed, 01/16/2019 - 01:56
Oil prices dipped on Wednesday on increasing signs of a global economic slowdown, although OPEC-led supply cuts helped support Brent crude above $60 per barrel.
Categories: Financial Media

Asia shares subdued, May's Brexit options eyed after crushing vote defeat

Wed, 01/16/2019 - 01:34
Asian shares took a breather on Wednesday after rallying the previous day on Chinese stimulus hopes, with investors assessing Brexit options after British lawmakers trounced Prime Minister Theresa May's deal to pull out Britain from the European Union.
Categories: Financial Media

USTR promises exclusion process for higher tariffs if China talks fail

Wed, 01/16/2019 - 00:35
U.S. Trade Representative Robert Lighthizer has assured lawmakers that companies will be able to request exclusions on tariffs on $200 billion worth of goods under discussion with Beijing if talks do not yield a deal by the March 2 deadline.
Categories: Financial Media

Nordstrom's full-price comparable sales for holiday season disappoints

Wed, 01/16/2019 - 00:10
Nordstrom Inc said on Tuesday comparable store sales at its full-price department stores rose only 0.3 percent during the crucial months of November and December, blaming lower traffic.
Categories: Financial Media

Industry must rein in spend on electric, self-driving cars: Magna CEO

Wed, 01/16/2019 - 00:08
Global automobile and auto parts makers which want to capitalize on electric and autonomous vehicles need to cut back investments and forge more partnerships instead, the chief executive of global parts supplier Magna International said Tuesday.
Categories: Financial Media

Snap CFO Tim Stone to resign, shares drop 8 percent

Tue, 01/15/2019 - 23:42
Chief Financial Officer Tim Stone will be leaving Snap Inc less than a year after taking the job, the company said on Tuesday, the latest in a string of executive departures from Snap over the past year.
Categories: Financial Media

Delta, United profit beats encourage sector, but shutdown impact looms

Tue, 01/15/2019 - 23:41
Delta Air Lines Inc and United Airlines kicked off fourth-quarter earnings reporting for the sector on Tuesday with profits that beat Wall Street expectations, but the rippling effects of a government shutdown could take a toll on the current quarter and beyond.
Categories: Financial Media

France seeks Renault board meeting to replace Ghosn: sources

Tue, 01/15/2019 - 23:34
The French government is moving to dismiss Renault's scandal-hit Chairman and Chief Executive Carlos Ghosn and has requested a board meeting to consider candidates to replace him, sources with knowledge of the matter told Reuters.
Categories: Financial Media

Ralph Winter office to invest $300 million in Medici U.S. shared housing

Tue, 01/15/2019 - 23:03
Medici Living Group said on Tuesday the family office of German real estate investor Ralph Winter has agreed to invest $300 million over three years to develop 1,300 U.S. units of Medici's Quarters brand of shared housing for young professionals.
Categories: Financial Media

Stocks rise on China hopes; sterling rebounds as Brexit vote fails

Tue, 01/15/2019 - 22:50
Major world stock markets climbed on Tuesday on hopes of more stimulus for China's economy, while sterling rebounded from the day's lows after British lawmakers defeated Prime Minister Theresa May's deal on withdrawing from the European Union.
Categories: Financial Media

Netflix, China boost Wall Street as investors shrug off Brexit vote

Tue, 01/15/2019 - 22:50
U.S. stocks rose on Tuesday as technology and internet stocks gained on Netflix Inc's plans to raise fees for U.S. subscribers and hopes of more stimulus for China's slowing economy fostered a risk-on mood among investors.
Categories: Financial Media

PG&E plunges for second day after step toward bankruptcy

Tue, 01/15/2019 - 22:29
PG&E Corp's shares and bonds fell sharply for a second day on Tuesday, as a failure to make interest payments by the California power utility added to investor nerves following the company's plans to seek Chapter 11 bankruptcy protection.
Categories: Financial Media

United profit beats forecasts as new flights from hubs pay off

Tue, 01/15/2019 - 22:22
United Airlines on Tuesday reported a fourth-quarter profit that easily beat Wall Street forecasts, sending shares higher, as the No. 3 U.S. carrier scheduled more flights out of its hubs and won back customers after a series of public relations disasters.
Categories: Financial Media

Citi says chance of delay to Brexit now 'very high'

Tue, 01/15/2019 - 21:42
U.S. investment bank Citi said on Tuesday there is now a "very high" chance that Brexit will be delayed past March 29, after lawmakers defeated Prime Minister Theresa May's Brexit divorce deal by a crushing margin.
Categories: Financial Media

Delaware judge orders Papa John's to turn over documents to founder

Tue, 01/15/2019 - 21:09
A Delaware judge said on Tuesday Papa John's International Inc must turn over internal documents to the company's founder who has been seeking to reassert control over the pizza delivery chain after he resigned as chairman in July.
Categories: Financial Media

Wall Street rises with help from Netflix and China

Tue, 01/15/2019 - 21:07
U.S. stocks rose on Tuesday as technology and internet stocks gained on Netflix Inc's plans to raise fees for U.S. subscribers and hopes of more stimulus for China's slowing economy fostered a risk-on mood among investors.
Categories: Financial Media

Ex-employee of proxy solicitor Georgeson convicted of fraud

Tue, 01/15/2019 - 21:05
A former senior managing director of a firm that advises companies on shareholder votes was convicted on Tuesday of participating in a scheme to bribe a proxy adviser's employee with sports and concert tickets to learn how its investor clients were voting.
Categories: Financial Media

Pound jumps as Brexit vote fails; stocks rise on China hopes

Tue, 01/15/2019 - 21:00
Sterling rebounded from the day's lows on Tuesday after British lawmakers defeated Prime Minister Theresa May's deal on withdrawing from the European Union, and major world stock markets climbed on hopes of more stimulus for China's economy.
Categories: Financial Media

White House considering former PepsiCo CEO, Treasury official to lead World Bank: source

Tue, 01/15/2019 - 20:56
The White House is considering former PepsiCo Inc Chief Executive Indra Nooyi, Treasury Department official David Malpass and Overseas Private Investment Corp CEO Ray Washburne among candidates to head the World Bank, an administration official said on Tuesday.
Categories: Financial Media

France seeks Renault board meeting to replace CEO Ghosn: sources

Tue, 01/15/2019 - 20:48
The French government is moving to dismiss Renault's scandal-hit Chairman and Chief Executive Carlos Ghosn, and has requested a board meeting to consider candidates to replace him, sources with knowledge of the matter told Reuters.
Categories: Financial Media

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